ECOWAS: Epoxide Resin Market 2024

Epoxide Resin Market Size in ECOWAS

In 2022, the ECOWAS epoxide resin market increased by X% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Epoxide Resin Production in ECOWAS

In value terms, epoxide resin production shrank modestly to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports in ECOWAS

In 2022, approx. X tons of epoxide resins were exported in ECOWAS; with an increase of X% against 2021 figures. Overall, exports showed a slight expansion. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, epoxide resin exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo represented the main exporter of epoxide resins in ECOWAS, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) took the second position in the ranking, distantly followed by Liberia (X tons). All these countries together took approx. X% share of total exports.

Togo was also the fastest-growing in terms of the epoxide resins exports, with a CAGR of X% from 2012 to 2022. At the same time, Liberia (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. Togo (X p.p.) and Liberia (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest epoxide resin supplying countries in ECOWAS were Cote d'Ivoire ($X), Togo ($X) and Liberia ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Togo, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Epoxide Resin Imports

Imports in ECOWAS

In 2022, the amount of epoxide resins imported in ECOWAS surged to X tons, growing by X% compared with 2021 figures. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, epoxide resin imports surged to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which reached X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%) and Ghana (X%). Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to epoxide resin imports into Nigeria stood at X%. At the same time, Benin (X%), Cote d'Ivoire (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire, Benin and Ghana increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest epoxide resin importing markets in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), together accounting for X% of total imports. Ghana and Benin lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Benin, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform